Freelance Friday 033 – Nov 23 2018

This week I spent so so much time recording. Starting next Monday, I’ll be doing some video work to go with the post of the day. Yes, the email will link to it.

I was also recording the audiobook to go with my next book release. Next Tuesday you’ll get your copy of The Freelancer’s Guide to Getting Started and it comes with a free audiobook. It’s on for $.99 during preorder and will go up at the end of next week.

Don’t forget that Jason Resnick and I are doing a course called Stop the Cycle. The whole point of it is to help you…stop the freelance feast and famine cycle. I’ve done a few videos on it and Jason has recorded a bunch of podcast episodes.

This wasn’t as big of a deal when revenue was high. I was able to pay my expenses, and still pay myself a good salary.

But, just as Michalowicz predicted, when sales slowed down, my monthly costs weighed on me like never before.

Michalowicz wrote Profit First, which I reviewed and loved. It transformed my business and it’s helped pretty much all of my coaching clients. Even one of my friends that I took regular walks by the river with when it was nice out said it changed his business.

So, why haven’t you read it yet?

With Justin Jackson’s post, I love most as he talks about his target salary. The biggest issue I’ve seen with solo people is that they can’t ever take the plunge and then pay themselves less.

I had to do it this year. We had to cut family expenses on top of the deep business cuts I had done. But I have so much more freedom this year and so much less stress than last year.

In my upcoming book The Freelancer’s Guide to Getting Started I have a big chunk on managing your money. If you’re not running your budget well then you’re not going to be able to focus on your work because you’ll have some huge sword hanging over your head.

The axe of poorly managed money has killed many freelance businesses. I probably talk to one person a week that has out of control expenses that never matched up to what they could earn.